What To Know When Buying A Home -

: If buying in a managed community, review the Homeowners Association (HOA) fees and regulations, as they can restrict property use and increase monthly costs HAR.com. Common Mistakes to Avoid

: Lenders often use the 28/36 rule , where housing costs should not exceed 28% of gross monthly income, and total debt should not exceed 36% Rocket Mortgage . what to know when buying a home

: Avoid financing a new car or using credit for furniture before closing, as new debt can disqualify your mortgage Bankrate. : If buying in a managed community, review

: Evaluate neighborhood safety, school quality, commute times, and proximity to grocery stores or parks HAR.com . : Evaluate neighborhood safety

: Distinguish between "must-haves" (location, number of bedrooms) and "nice-to-haves" (granite countertops, pool) to avoid emotional overspending NerdWallet.

: Compare offers from at least three different lenders to ensure you get the best terms; even a fraction of a percent can save thousands over the life of a loan Bankrate . 3. Home Search & Evaluation

: Be prepared to provide pay stubs, W-2s, tax returns, and bank statements for the past two years The Mortgage Reports .